Orion Portfolio Solutions LLC Sells 2,695 Shares of Innoviva, Inc. (NASDAQ:INVA)

Orion Portfolio Solutions LLC lessened its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 76,694 shares of the biotechnology company’s stock after selling 2,695 shares during the period. Orion Portfolio Solutions LLC’s holdings in Innoviva were worth $1,331,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FMR LLC grew its position in shares of Innoviva by 8.2% in the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Innoviva by 2.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,066 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 784 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Innoviva by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,274 shares of the biotechnology company’s stock worth $230,000 after buying an additional 1,241 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Innoviva by 8.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,501 shares of the biotechnology company’s stock valued at $321,000 after buying an additional 1,381 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Innoviva by 3.0% in the fourth quarter. Royce & Associates LP now owns 59,625 shares of the biotechnology company’s stock valued at $1,034,000 after buying an additional 1,717 shares during the last quarter. 99.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on INVA shares. Scotiabank started coverage on Innoviva in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price on the stock. StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday.

Innoviva Price Performance

Shares of NASDAQ INVA opened at $17.72 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of 25.68 and a beta of 0.48. The business’s 50 day moving average is $17.93 and its 200-day moving average is $18.59. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a 1-year low of $14.33 and a 1-year high of $21.28.

Innoviva (NASDAQ:INVA) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share for the quarter. The company had revenue of $91.81 million during the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. Equities research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Alexander J. Denner sold 151,175 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the sale, the insider now owns 7,125,825 shares of the company’s stock, valued at $125,628,294.75. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.